For you David Maister fans, and I will include myself in that category, David has given his site a lift complete with welcoming video. You can also sign up for a notification of his articles as he publishes them. There is a wealth of knowledge and materials there. Check it out! PICT0337.jpg

After finishing a full day workshop yesterday with some major law firms, accounting firms and some other professional service firms at the Gordon Institute of Business Science (GIBS) of the University or Pretoria (Johannesburg, South Africa Campus), I was reminded yet again that professionals face the same fundamental challenges regardless of geographical location. The skills involved in courting prospective clients were not part of the educational package of any of the professionals in the room but there was a universal eagerness to learn and hone those skills. Thank you to all those who attended and to GIBS for allowing me to participate as a Visiting Professor. UP_GIBS.gif Also, congratulations to GIBS for moving to 36th in the world for Executive Education in the UK Financial Times Executive Education survey this year.

A story today, Price-cutting by law firms hurting business, in the business section of the Bangkok Post reinforces yet again that law firms face the same issues almost anywhere in the world you find them. (The lawyer interviewed may use the “cake” metaphor instead of “pie”, but his message is a familiar refrain). “The world of law, it turns out, has not been immune to price wars” says Charin Satchayan, a partner with a prominent Bangkok law firm. He goes on to say that “…it’s a situation in which everyone is after the same piece of cake… The cake in this case is the high end legal work coveted by all the major firms: “particularly mergers and acquisitions and public offerings in energy and mineral resource, insurance and real estate.” 010905_bus06.jpg Mr. Charin’s wise counsel would benefit most firms in most markets: “All law firms have similar backgrounds in general legal knowledge. However, it takes experience built up over years for individuals to gather expertise in particular areas. And I believe every law firm should build its own strengths and find a niche that it can do best”.

Adam Lewis, a Director and the Managing Partner of the Australian and New Zealand practices of McKinsey & Company, was one of my co-presenters at the World Masters of Law Firm Management last week, in Sydney.

Adam told us a number of fascinating things about McKinsey, one of the premium consultancies in the world. Among them were two gems:

1) McKinsey & Company has no internal marketing department. (Why not? Because the consultants themselves market the firm.)

2) 2/4/8. Every Director in the firm is required to be working on “2” assignments, be in the process of proposing for “4” more, and in communication with “8” more prospective clients.

Management within McKinsey follows up to ensure that “2/4/8” is a reality.

Some superb marketing professionals in some extraordinary law and accounting firms confided in me that if their fairy godmother granted one wish it would be that their “professionals” would interact with clients beyond just doing the work.

It sounds like McKinsey’s “2/4/8” means that the fairy godmother has already visited McKinsey & Company.

“Linklaters is the most productive of London’s 20 largest law firms, generating 24 percent more in fees per employee than bigger competitor Clifford Chance LLP, a Bloomberg survey found.”

“The world’s second-largest law firm had revenue per employee of 168,763 pounds ($304,000) in fiscal 2005, about 32,000 pounds more than Clifford Chance and 20,000 pounds greater than the next most productive, Freshfields Bruckhaus Deringer, the figures show.”

For more details, check out the Bloomberg article: “Linklaters Is Most Productive of London Law Firms, Survey Finds”

The Fall 2005 edition of our quarterly magazine, Edge International Review, is now available for downloading as a PDF. This is a full color 40 page magazine so may takle a few minutes to download. (Some browsers will display the magazine without downloading it.) Senior management team members in law firms may request a complimentary subscription to the hard copy version by sending me an email. If you want a printable single-page-at-a-glance copy of any individual article, please email me and I will either email it to you or post it for you. ****EIR Fall 2005 single cover.jpg